The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-06-16

when the wreckage could be cleared away 1t
was done. but nothing more was attempted.
The l-ocloek range of prices showed a material
recovery from bottom quotations, and no change
of consequence occurred during the afternoon
session. June and July wheat closed 4ac and
&c lower, respectively
On the afternoon board there was q better
feeling. kershaw & Co sent the following CON-
municaton:
"Gentlemen-We are all tied up, but are solv-
ent and can paw out in full il she market goes no
lower than it has NJ to noon. We expect to ex-
tricate ourselves and pay in full tomorrow
morning KERsHAw 6 Co"
Frank johnson. Of the failed firm of Roseufeld
& Co., said to-day that the firm could not tell
just how it stood. Many of their trades were
clients were both their debtors and creditors.
He also said If the clique stood by Kershaw it
would have to stand by his firm. Wiltshire.
its representative. was in town, and they
and bring him TO time. They had their
attorney on his trail and intended to hold
They had furnished his firm money yesterday
to margin down ii cents but he failed TO re-
spond with the additional ten called for. al
though again and again wiring them that he
would do So Their first dispatch was that they
were raising the money and would deposit at
once; then that they would have it in ten min
utes; then that it was deposited, and on the
strength of this assurance they stood in the gap
almost alone until noon. Having been forced to
the wall by failure of support that had been
peatedly and positively promised. they did not
made secure aud themselves unprotected, and
they would not do SO.
The failure of Charles Henrotin. q prominent
stock broker and member OF the New York Ex.
change, and for many years the Belgian consul
at Chicago, was great surprise and added to the
uneasness. 1T is true that had to suspend"
said Mr.. Henrotn. THE embarrassment
caused entirely by the fact that could not aud
cannot collect moneys duo / have been
trading largely in stocks in New York, and some
of my heaviest customers failed to make good
here. had some heavy deals for customers who
did not keep their margins good and Iehad to
and stand it myself. and it cost me
that deal $4,000 / lost
through the same causes as much more on the
stock market. and the worst OF 1t Is that the men
for whom had to pay out this money prac-
tically without means themselves to-day,
there is but little hope of recovering from them.
The break in wheat did not alone compel me to
quit Or course, there Is money Ioet in that,
too. but everything seemed to come at once. I
could not respond to the calls for margins
trades that would have been perfectly safe as
they stood in the less panicky times My liza
bilities arc about evenly divided between here
aud New York. Most Of my indebtedness is Sc
cured. All my loans stocks and bonds.
bilities and assets are I cannot tell till
have made up the balance sheet ,
know I was carrying half a million of stocks
York Stock Exchange will go part way toward
paying up We have been liquidating moro all
morning. and in a case like this man cannot
tell how he stands. l think, though. will be
able to pay up every dollar and resume busi-
ness"
In the Circuit Court. to-day suit was COM
menced by the failed firm of Rosenfeld & Co.
against Wiltshire. Eckert & Co.. of Cincinnati.
for 81 100000 A deputy sheriff secured service
during the afternoon on Wiltshire while the lat
ter was engaged in conferences in a Dearborn
street bank. Mr.. Rosenfed said tonight that
the suit was entirely of civil nature but what
the developments would be he was not prepared
to state. The suit had been brought in hurry
in order to secure service on Wiltshire while he
was in town, and the details of the
were still in chaotic state.
The basis of the suit is the defendants failure
shire left the city shortly after being served with
the papers in the suit This evening Frank
johnson, of the firm of Rosenfeld s Co. was
pressed for a definite statement regarding the
alleged attachment of the account Of Kershaw 81
Co. He said: Its campaign rumor, inspired.
evidently, by people aptagonistic to us or by
parties interested in the bear side of the market
The money in question, If in existence at all,
would have turned the tide this morning and al
lowed kershaw to go through all right and pre-
vented most of the failures. 1t would have been
turthest from our thoughts to stop such pleas
ant event. We have seen enough demoraliza-
ton, and would make no movement which would
have hastened failures and add to the present
trouble. deny the report emphatically."
Further Mr.. johnson would not say.
The break in the wheat corner and the excite
ment on the Board of Trade has had the effect
of cutting off, for the time. all grain shipments.
both for export and Eastern consumption. The
shippers here all at sea regarding prices, and
can do nothing until the panic Is over, and trade
ce Is back into legitimate channels. 1t is believed
in the railroad Offices that shipments will not be
resumed before the first of the week. although all
the interested officials agree in asserting that the
of wheat to normal prices will have
the effect to swell East bound tonnage for the
next three months to double the usual propor-
tions.
The aspect of affairs in the Office of c. ]. Ker-
shaw & Co. this afternoon was very different
from that of the previous day. when it was the
center of consolation, and the members of dozens
Of houses passed to and from the presence of
their expected preserver Now the head OF the
firm sat alone in his private Office and the few
who sought an interview were sternly denied,
The clerks in the outer departments had ceased
10 labor the books, and stood about whisper
ing the gloomy outlook About 3 P. NJ an un-
visitor arrived in the person OF Deputy
Sheriff Burke. He was armed with a writ OF
attachment against the firm in favor OF George
D. Baldwin g. 60. 1t was necessary 20 see Mr.
kershaw TO serve notice On him. ard the Dep
uty blandly assumed the character OF country
customer iesirous of making friendly call It
would nor work with the clerks The deputy
tried persuasion. and failed. Then he demanded
ad mission. showing his star. He was savagely
refused, and putting his sturdy frame against
The door he burst it opan. -Four of the clerks
rushed at the deputy TO eject him.
Burke promptly knocked TWO of them
iown, and with a vicious kick at the
others jumped into Kerehaw's private apartment.
The writ was read in a jlffy, and without wait
hurry The echo of his footsteps had hardly
ceased when Mr.. kershaw came out and an
bounced that be going home. He did not
again appear in his Office.
Handfuls of attachments were taken out by
various parties against the embarrassed firms.
Ind the descent of the sheriff forces was equally
sudden and vigorous in other Offices, and 1t Is
thought that all the firms against whom writs
of garnishee were issued we're found aad served.
So far as known but one of the failed merchants
oresaw danger of such event and took the
1recaution to transfer any property. The one
'uch individual was J. II. Yourt who had
Iced to his wife recorded on twelve lots, ths
named being $4,000.
The utmost uncertainty prevailed to-nightre-
,arding the status of the $500, 900 said to have
,een brought from Cincinnati this morning y
Wiltshire, of the Fidelity Bank, and suppose,
.arly in the day. TO have been deposited In tho
American Exchange Bank TO the credit OF ker-
shaw d Co. Not few persons went so far as
% declare that the 100000 was myth.
others said that the money had come.
,ut had gone back to Cincin-
in